Save Money & Treat Yo Self

How To Save Money & Have Your Lattes Too

Good news, millennials: You don't have to give up those pumpkin spice lattes just yet.

Ethan Bloch, founder of online financial company Digit, is shaking up some major money myths in a new interview with Bloomberg Business. Chief among them? "Just have your fucking latte," he says.

"Just having that conversation in your head and using self-control over $3 is time and energy misspent," the financial whiz explains.

Treating yourself to Starbucks' finest is just the tip of the iceberg. According to Bloch, millennials should stop stressing about buying homes, getting jobs straight out of college, and stockpiling money into a retirement fund.

"Don’t buy a fucking house," Bloch says. "It depends on where you live, but nowadays it often makes a lot more sense to rent than buy. It goes back to values: Are you at a stage in your life when you’re really going to enjoy being a homeowner vs. having that idea implanted as something you want by an older generation or the U.S. government?

"People in their 20s don’t have a lot of responsibilities, and that should be leveraged. Even though you don’t have a lot of money, you are rich in unattached time. You can be a bit riskier now than you can be as you age, possibly, and things become more determinate."

Recent graduates should also focus less on paying off their student loans right away, he says. Far better to make life choices that are meaningful. What's more, getting a credit card with a modest limit of $500 will help build credit without exposing a young person to too much risk.

Check out Bloch's interview for his take on 401(k)s and long-term investing. It's something juicy to read while you wait for your latte to be made.